Inpex sees income rise by 28.6%

The Japanese oil company, Inpex, has announced that its net income has risen almost 30% to US$ 1.52 billion, up from US$ 1.18 billion during the same period last year.

The Ichthys operator has cited rising oil and gas prices and improved sales from other sources. Most of the increased revenue has come from crude oil, with sales revenue levels rising 30.5%; natural gas sales revenues also rose by 21.8%.

These positive results are especially encouraging as they come during a time in which the Yen is undergoing appreciation against the US Dollar.

The last few months have been a period of intense activity for Inpex, with contracts for the enormous Ichthys project being handed out, as well as the transfer of a 30% stake in the Indonesian offshore block, Masela.